House Democrats plan to pass a $1.9 trillion coronavirus relief bill this Friday. CNBC reports that they are hoping to send it to the Senate later in the day, with the hope of getting it on President Joseph R. Biden’s desk by March 14.
“The American people strongly support this bill, and we are moving swiftly to see it enacted into law,” House Majority Leader Steny Hoyer, D-Md., said in a statement posted to Twitter on Tuesday night.
The House will vote on Friday on @POTUS’ #AmericanRescuePlan to end this pandemic and deliver urgently needed relief to America’s families and small businesses. The American people strongly support this bill, and we are moving swiftly to see it enacted into law.— Steny (Wear a Mask) Hoyer (@LeaderHoyer) February 24, 2021
Here’s what you need to know:
What does the $1.9 trillion COVID-19 relief bill include?
- $1,400 direct payments to most Americans
- $400 per week jobless benefit supplement and an extension of programs making millions more Americans eligible for unemployment insurance.
- $20 billion towards COVID-19 vaccinations
- $50 billion into testing
- $350 billion into state, local and tribal government relief
What if I didn’t receive my previous checks?
According to the IRS, if you didn’t get the full Economic Impact Payment, you may be eligible to claim the Recovery Rebate Credit.
How will the IRS know where to send my payment?
If you received direct deposit of your refund based on your 2020 tax return (or 2019 tax return if you haven’t filed your 2020 tax return), the IRS has sent your Payment to the bank account provided on the most recent tax return.
The IRS on Friday officially started accepting tax returns on February 12, with the filing window closing on its customary date of April 15.
Making distribution of the stimulus checks possible in the middle of tax season, which could affect how much you could get — especially households that lost income last year or who had a child in 2020.
According to the IRS, the IRS department relies on each individual’s most recent tax filing to determine their stimulus check payment.
For more information regarding your third stimulus check payments click here.